3EV, a promising player in India’s electric vehicle space, has raised ₹1.20 billion (₹120 crore) in Series A funding led by Mahanagar Gas. The fresh capital will fuel expansion in EV manufacturing and bolster sustainable last-mile logistics solutions nationwide.
3EV, an innovative electric vehicle company in India, has successfully secured ₹1.20 billion (₹120 crore) in Series A funding led by Mahanagar Gas, marking a significant milestone in its growth journey. The funding infusion aims to accelerate 3EV’s mission to scale up production of electric three-wheelers and support sustainable last-mile delivery networks.
Mahanagar Gas’s investment underscores its strategic focus on fostering clean energy and sustainable mobility solutions across India. By backing 3EV, the gas utility company is expanding its role beyond energy supply into driving green transportation adoption.
3EV plans to deploy the funds to enhance manufacturing capabilities, invest in R&D for next-generation EV technologies, and broaden its market reach across urban and semi-urban regions. The company targets addressing last-mile logistics challenges by providing eco-friendly, cost-effective delivery vehicles suited to Indian road conditions.
This financing round reflects growing investor confidence in India's electric mobility ecosystem and highlights the increasing importance placed on sustainability and technology-driven transport solutions.
Key highlights:
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3EV raises ₹1.20 billion (~₹120 crore) in Series A funding led by Mahanagar Gas
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Capital to be utilized for manufacturing scale-up, R&D, and market expansion
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Focus on electric three-wheelers for last-mile logistics and delivery services
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Mahanagar Gas strengthens green mobility presence through strategic investment
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Funding signals robust investor belief in India’s EV growth trajectory
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3EV committed to eco-friendly, affordable transport solutions tailored for Indian roads
Sources: EV Reporter, Autocar Pro, Mercom India